Artificial Intelligence (AI) is one of the most fun and profitable topics for the top business minds at the World Economic Forum (WEF) Tianjin 2018, a sign that AI is getting real in business.
George Thomas, CIO of JLL Asia Pacific, said that the real estate industry is now largely supported by AI and block chain technology. He said that AI helps the company to make decisions with its big data.
Coca-Cola is also one of the businesses using AI to create new consumer experiences. The technology means customers can now buy Coca-Cola all by themselves.
"It's more like a digital refrigerator," said Zhang Jiantao, vice president of Greater China and Korea at the Coca-Cola Company, "Customers can just walk in and open the cooler, and then pick up beverages.
The first Coca-Cola digital refrigerator was set up in China's southern city of Changsha. The Chinese government announced its ambitious agenda to lead the world in AI last year and it intends for the country to become the "premier global AI innovation center" by 2030.
"China is already a leader in AI," said Frank Hester, founder &CEO of TPP. The CEO said that China has already made progress towards achieving their 2030 goal.
Meanwhile, consulting firm Boston Consulting Group (BCG) just issued a report with the Massachusetts Institute of Technology (MIT), saying Chinese companies are beating their European and American peers in AI investment.
But there are also myths around AI. Philipp Gerbert, senior partner of the BCG, said that AI is more than automation; it helps with business investment as well.
"We found companies invest more in new businesses, which is also a good job (by AI]" said Gerbert.
Gerbert also added that CEOs are very optimistic about AI, as its opportunity outweighs the potential risks.
(CGTN's Xia Cheng contributed to the story.)
